Carriers must seek novel solutions to reduce costs and maintain a healthy bottom line. Here is how to get costs down.

Posted & filed under Carrier Connection.

If you feel it’s getting more expensive to keep your eighteen wheels on the road, you’re not alone.

A new study from the American Transportation Research Institute (ATRI) shows that truckers’ operating expenses are increasing nationwide. The study also noted that no ‘substantial improvements’ for the industry were eminent, necessitating truckers to discover new ways to cut costs.

Here’s what the study found.

 

ATRI Findings: Operating Costs for Truckers are Rising

ATRI reported overall marginal costs of operating a semi-truck at $2.270 a mile, a new record.

Broken down, it’s apparent that the rise is attributable to incremental increases across a variety of trucking-relating expenses:

  • Truck and trailer payments increased 8.8% to $0.360 a mile.
  • Driver wages increased fleet operating costs to 7.6%, or $0.779 a mile.
  • Repair costs rose 3.1%, tacking on another $0.202 per mile.
  • Insurance premiums grew considerably, 12.5% to $0.099 per mile over the last year.

Many carriers have waited with bated breath for the market to flip, but the ATRI sees no apparent signs of change.

Carriers must seek novel solutions to reduce costs and maintain a healthy bottom line.

Here are a few ways to receive discounts on some of trucking’s most significant expenses.

 

Cut Fuel Costs through a Fuel Card

Many carriers are familiar with fuel cards that allow for a discount on every gallon of fuel you pump—but which fuel cards offer the most help?

An excellent fuel card is comprised of three essentials:

  1. Wide acceptance at hundreds of locations across the nation.
  2. A deep discount that makes a significant difference on your fuel bill.
  3. Customizable features to ensure the fuel is servicing the unique needs of your fleet.

The England Carrier Services fuel card meets this criterion with flying colors. If you’re ready to save on fuel, fill out the form below.

 


     

    Enroll in a Tire Discount Program

    If you pay full price for tires, you’re missing out on one of trucking’s most straightforward ways to save money.

    Tire discount programs, like the England Carrier Services tire program, offer special pricing on tier-one tires, including premium models like the Michelin X® Line Energy™ Z+.

    Tire discount programs are the result of companies like England Carrier Services leveraging long-standing relationships. The result is a highly competitive price for enrolled carriers.

    If you need tires, including models from Michelin and BFGoodrich at special pricing, fill out the form below.

     

       

      Take On More Freight with Factoring Services

      Factoring is a service provided to truckers that allows them to receive immediate payment for a load. This means being paid within hours instead of days.

      Factoring solves a common problem for truckers: They want to take on more freight to make more money, but they cannot pay for their expenses until they are paid. Factoring allows truckers to be free from the limitation of their essential expenses.

      To learn more about factoring services for your fleet, fill out the form below.

       


         

        With operating margins across the trucking industry feeling the weight of market conditions, truckers will need to find solutions to cut their costs. By getting a fuel card, enrolling in a tire program, and utilizing factoring services, truckers can combat large operating expenses and thrive.

         

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        The England Carrier Services (ECS) division offers various services for carriers ranging from maintenance to support. As ECS members, carriers have access to nationwide discounts on fuel and tires from dedicated team members committed to finding the best price. ECS also provides factoring services with benefits such as same-day funding to a bank account or fuel card. These options allow carriers the freedom to focus on growing their business while saving time and money.